Business News Updates

The CCPA has urged FSSAI to investigate claims by a Swiss NGO that Nestle sells baby products with higher sugar levels in less developed countries like India compared to Europe. Nestle India asserts it has reduced sugar in its products and complies with international standards.

Twenty energy companies have formed an alliance to create the Unified Energy Interface (UEI), a system similar to UPI for EV charging. This aims to improve payment and transaction interoperability across EV charging networks and includes partnerships with electricity distribution companies.

Francisco Rivera, a 26-year-old from Orlando, earns Rs 3.8 crore annually by dedicating just 20 minutes daily to his organic candle business. Transitioning from a part-time online tutor to an entrepreneur, he leveraged YouTube and Canva for business insights and design, respectively.

The IMF commends India for maintaining fiscal discipline during an election year, highlighting its robust economy with a projected growth of 6.8% for 2024-25. Despite global challenges, India's sound macroeconomic fundamentals and strategic investments are set to bolster its position as a major global growth driver.

India's electronics industry experienced a 154% growth in hiring from March 2023 to March 2024, led by the telecom sector. Women now represent 78% of the workforce, with significant roles in manufacturing. The surge is supported by government initiatives like 'Make in India' and PLI schemes.

According to the IMF and UNCTAD, India is poised as a key driver of global economic growth, outpacing China with a projected GDP growth of 6.8% in 2024-25. The country's robust expansion is fueled by significant government investments in infrastructure and strong domestic demand.

Uttar Pradesh has added six more products to its list of Geographical Indication (GI) tagged items, reaching a total of 75, the highest in India. The new additions include Tirangi Barfi from Kashi and crafts like Banaras Metal Casting and Bareilly Zardozi. This expansion was supported by NABARD Uttar Pradesh, emphasizing UP's leading role in GI certifications.

Zomato introduced a specialized 'large order fleet' for up to 50 people gatherings, announced by CEO Deepinder Goyal. The electric vehicles, equipped with cooling and temperature control, aim to enhance customer experience for large group orders.

Gold prices have been driven up by the safe haven demand by investors in the wake of uncertainty caused by rising geopolitical tensions.

Gold futures on MCX recorded an increase of Rs 779 per 10 grams which is 1.09 per cent above the previous trading session’s closing price of Rs 71,644.

Total funding received by the fintech sector increased by 59 per cent in Q1 2024, compared to Q4 2023, emphasising the robustness of the Indian fintech landscape amid a dynamic economic environment.

New financial year started; 59L filed ITR. TDS updates till Dec; others pending. Advised to file ITR between June 15-July 31 to avoid discrepancies.

According to WTO estimates, global exports of digitally delivered services rose to $4.25 trillion in 2023, up 9 per cent year-on-year, accounting for 13.8 per cent of world exports of goods and services.

Earlier in the day, sources said Musk is expected in India the week of April 22. He is likely to announce the company's investment plans in the country during his visit, the sources said.

Stocks in warehouses located in major ports and in industry hubs of pulses should be verified from time to time and strict action should be taken on stockholding entities found to be reporting false information on the stock disclosure portal, the order issued by the Department of Consumer Affairs states.